This. This is why I've said this so many times, in so many ways. Public ledgers are a mistake. They are the single greatest failing in crypto, and privacy should never be an opt in. Bring billions on chain? Attest to everything about your life, your location?

This. This is why I've said this so many times, in so many ways. Public ledgers are a mistake. They are the single greatest failing in crypto, and privacy should never be an opt in. Bring billions on chain? Attest to everything about your life, your location?

https://twitter.com/TheCryptoCPA/status/1781403340045197813

BDFL of Quilibrium, Eng @ Farcaster, ex-Coinbase, always opinionated, never hydrated

/quilibrium

💯
But, it’s also true that if nobody can see the bags, there would have been no FOMO and this entire crypto space would probably have never grown legs.⚖️☯️

I agree with with this too.

Perhaps a more pragmatic way to try and make my point. If Zcash were the first ever crypto, nobody would believe the zk-hidden ledger was doing its job.

FOMO arguably has lead to more people getting rekt than wealth accumulated by many

Man. Dog. Van. Building sizzle.fi, surfing and playing disc golf

The right answer is permissionless systems, that let users grant, limit, and revoke permission. Composability does not require a public ledger.

Moreso that if none of the data was public, there never would have been much built in terms of products, since it's the ability to access this unruggable data/system that makes crypto work and allows users to permissionlessly build and allows composability. The right answer is probably some combination